<div id="readability-page-1"><div>Wise Andrew J Vice President of Arrow Financial Corporation [AROW] filed a Form 4 on December 12, 2025 with the Securities and Exchange Commission disclosing the following changes in ownership:<div><table><tbody><tr><th>Date</th><th>Transaction</th><th>Shares</th><th>Price</th><th>Value</th></tr><tr><td>12/10/25</td><td>Exercise</td><td>3,483</td><td>$27.04</td><td>$94,180</td></tr><tr><td>12/10/25</td><td>Surrender(1)</td><td>2,976</td><td>$31.64</td><td>$94,161</td></tr></tbody></table></div>Ending Holdings: 21,725 - Direct<ul><li>(1)</li><li>Surrender of shares back to company to pay option exercise cost and/or resulting tax liability.</li></ul>For a free trial, or to learn more about our insider trading analysis and data services, please visit http://www.washingtonservice.com or contact us at (301) 913-5100 or send an email to info@washingtonservice.com.Founded in 1970, The Washington Service provides securities professionals with financial, economic and public policy research and data. </div></div>

AROW

Wise Andrew J, VP of Arrow Financial Corporation, filed a Form 4 with the SEC on December 12, 2025, disclosing changes in ownership. On 12/10/25, he exercised 3,483 shares at $27.04 and surrendered 2,976 shares at $31.64. His ending holdings are 21,725 shares directly. The surrender was to cover option exercise costs and tax liabilities.

VP Wise Acquires 507 Of Arrow Financial Corporation [AROW]